Mumbai : The proposed Bandhan banking services to be launched by the microfinance entity, Bandhan Financial Services Ltd has
Bandhan has got an in-principle approval from the Reserve Bank of India to start banking operations. As a bank, it will have pan-India operations and meet the credit needs of different types of customers even as offering various savings products.
Sam Balsara, CMD, Madison World, “Bandhan’s accomplishments are truly remarkable and we are delighted to partner them in this exciting new phase in their life which will make them play an even more meaningful role in the Indian financial sector, changing lives of many millions.”
The microfinance entity, Bandhan Financial Services Ltd, was set up in 2001 to address the dual objective of poverty alleviation and women empowerment. Currently, it operates in 22 Indian states through more than 2000 branches, run by 14,000 employees. It has a borrower base of 6.5 million.
C S Ghosh, Chairman and Managing Director, Bandhan said, “As we embark on this new journey, we need to reach out to new consumer across Indian states and we are confident that Madison will help us achieve our objective.”
Madison Media has recently won a host of new accounts like Viber, Lenskart, Amul Hosiery, Metro Cash & Carry, DHFL and Gaana.com.
Madison Media Group client list including Godrej, Mondelez (formerly Cadbury), ITC, Marico, McDonald’s, TVS, Raymond, Piramal Healthcare, Levis, SpiceJet, Domino’s, Bharti AXA, Max Life Insurance, Asian Paints, Pidilite, Tata Salt, Acer, Crompton Greaves, Times Television Network, Indian Oil, Enamor Lingerie, Gowardhan Dairy, HomeShop 18, Cafe Coffee Day and many others. The gross billing of Madison Media Group is about Rs 3,000 crores.
